BBVA Expands its Sustainable Business Activity in 2025 with Operations Tailored to Each Market
Sustainability is one of BBVA's strategic priorities. In 2025, the Group has carried out significant sustainable operations across its main geographies—Spain, Mexico, Türkiye, South America, and through BBVA Corporate & Investment Banking (BBVA CIB)—in line with its goal of supporting customers through their transition and generating new business opportunities around climate, natural capital, and social issues.
BBVA seeks to generate new business opportunities in sectors where the transition is already an economic reality. The bank relies on specialized teams, advanced risk management capabilities, and an advisory model that helps companies and families make informed financial decisions. The following is a breakdown by sector of notable sustainable operations the bank has participated in during 2025.
Energy and the Industrial Transition: New Financing for Renewable Generation and Efficiency
The energy sector remains a key driver of the transition to a more sustainable economy. In Argentina, BBVA has provided sustainable financing to the San Alonso Thermal Power Plant to support the expansion of its renewable generation capacity. The bank has also worked with Bio4 to improve its bioethanol production processes—an example of how the bioeconomy is opening up new opportunities across Latin America.
In Spain, BBVA Corporate & Investment Banking (BBVA CIB) has taken part in financing large-scale wind and solar projects and supported the first project-finance deal for a hydrogen plant in southern Europe, located in the Basque Country, under the bank's cleantech financing framework. BBVA has also led Iberdrola's new €2.5 billion sustainable credit facility as agent bank and joint lead arranger.
In Türkiye, Garanti BBVA has backed energy investment in the country's main industrial corridor by financing energy-efficiency and renewable-generation projects for industrial companies.
Textile Sector and Value Chain
Across the textile sector and its value chain, BBVA advanced a number of financing initiatives in 2025 across different markets. In Mexico, the bank provided Proximity Parks with a sustainable loan of up to MXN 1.2 billion to support the development of logistics and industrial infrastructure. BBVA is also participating in a financial support program for the textile and footwear sector, announced jointly with the Ministry of Economy and backed by Nacional Financiera (NAFIN)—Mexico's development bank, which promotes access to financial services for SMEs. The program has a potential volume of MXN 120 billion and is aimed primarily at small and medium-sized enterprises.
In Türkiye, Garanti BBVA has partnered with Ivy Decarb on a financing initiative to support the decarbonization of the textile sector, targeting companies investing in measures to reduce the environmental footprint of their production processes.
Housing, Building Efficiency, and Mobility: Solutions Closer to Consumers
The transition is also gaining momentum in homes and urban mobility. In Spain, BBVA has doubled its financing for homeowners' associations seeking to carry out energy-efficiency or accessibility upgrades. The bank has also launched the CAE loan for energy-efficiency projects in homes and SMEs, a financing solution designed for customers looking to monetize their Energy Savings Certificates (CAE).
The bank has also expanded its mobility solutions, tripling in Spain the number of dealership agreements available through its app and promoting electric-vehicle leasing and renting for companies across several markets.
Agriculture and Value Chains: More Efficient Production and SME Support
The agribusiness sector is undergoing a modernization process that requires sustained investment. In Colombia, BBVA has launched an initiative with Riopaila Castilla, one of the country's leading agribusiness companies, enabling the company's suppliers to access financing on terms linked to their environmental performance. The initiative encourages measurable improvements across the entire value chain.
Also in Colombia, BBVA and Yara have formed a financial partnership that helps farmers access sustainable fertilizers, supported by dedicated financing tied to product purchases. This initiative illustrates how sector-wide collaboration can combine financing with innovative solutions to environmental challenges, representing a meaningful step forward in strengthening food security.
In Argentina, BBVA certified as sustainable ten export pre-financing transactions and export-related financial loans granted to the wine producer Grupo Peñaflor, for a total of $64.8 million.
Hard-to-Abate Sectors: Mining, Cement, and Infrastructure
Sectors facing the greatest decarbonization challenges require solutions that combine financing, technology, and expert advisory support. In Peru, BBVA supported Hochschild Mining with a $300 million corporate loan linked to sustainability performance indicators, and structured the first KPI-linked loan in Peru's cement sector for Cementos Yura.
In Spain, the agreement between BBVA and ADIF—a €250 million sustainable loan—forms part of the country's railway infrastructure investment plan. In Türkiye, Garanti BBVA took part in a €1.7 billion sustainable financing for the Antalya–Alanya highway project.
Protection and Conservation of Natural Capital: Biodiversity-Linked Financing
In November 2025, Garanti BBVA issued Türkiyes first biodiversity bond, becoming the first bank in the country to issue a blue bond through a pioneering transaction focused on protecting marine ecosystems. The bond, with a three-year maturity and a total amount of more than $20 million, will support the sustainable management of marine ecosystems in the Mediterranean basin.
Social Impact: Supporting Microenterprises, Women Entrepreneurs, and Education
The social pillar of sustainability is also gaining momentum across BBVA’s initiatives. In Peru, BBVA has supported the country's first gender-focused social bond for women-led micro and small enterprises (MSE), developed in partnership with IDB Invest and COFIDE. The bond is designed to expand growth and development opportunities for women entrepreneurs and owners of micro and small businesses, helping them scale their ventures and improve living conditions for their families.
BBVA’s Strategic Commitment to Sustainability
BBVA sees sustainability as a driver of growth and a catalyst for developing new business opportunities. Its sustainability strategy rests on three core pillars: climate action, natural capital, and social inclusion. For the 2025-2029 period, the bank has set a target of €700 billion in sustainable business, more than doubling its previous goal of €300 billion for 2018–2025. That earlier target was reached in December 2024, a full year ahead of schedule. The new objective is not only more ambitious in scale, but also more demanding in timeframe, with the target to be achieved over five years instead of eight.
The criteria BBVA uses to account for products within its sustainable business mobilization target are set out in its Guide to Sustainable Business Mobilization.
BBVA is continuing to advance its transition plan to achieve net-zero emissions by 2050. In addition to the 2030 interim decarbonization targets already defined for ten sectors —oil and gas, power generation, automotive, steel, cement, coal, aviation, shipping, aluminum, and commercial and residential real estate—the bank is also working to set targets for additional sectors, including agriculture.